Citigroup Inc. assumed coverage on shares of IQE plc (LON:IQE) in a report released on Friday morning. The brokerage issued a buy rating and a GBX 195 ($2.56) target price on the stock.

IQE has been the subject of a number of other research reports. Peel Hunt raised their price objective on IQE plc from GBX 135 ($1.78) to GBX 150 ($1.97) and gave the company a buy rating in a research note on Tuesday, September 5th. Canaccord Genuity reaffirmed a buy rating and set a GBX 180 ($2.37) target price on shares of IQE plc in a research report on Tuesday, September 5th.

Shares of IQE plc (IQE) traded up GBX 23 ($0.30) during trading on Friday, reaching GBX 163 ($2.14). The company’s stock had a trading volume of 37,626,956 shares, compared to its average volume of 7,820,000. IQE plc has a 12-month low of GBX 29.50 ($0.39) and a 12-month high of GBX 166.25 ($2.19).

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IQE plc Company Profile

IQE plc is a United Kingdom-based holding company. The Company is engaged in the research, development and provision of engineering consultancy services to the compound semiconductor industry. The Company’s segments include wireless, photonics, Infra Red and CMOS++. The Company is the manufacturer and supplier of Compound Semiconductor wafers or epiwafers using a process called epitaxy.

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